Energy Spectrum Capital

Energy Spectrum Capital, established in 1995, is a Dallas, Texas-based private equity firm specializing in the energy sector. It invests in lower-middle market companies, focusing on midstream energy, oil and gas infrastructure, and energy services. The firm typically deploys $50 million to $200 million in equity per investment, supporting management teams with strategic guidance and capital to execute business plans. Energy Spectrum Capital's investors include private and public pension funds, insurance companies, and other institutional investors.

Peter W. Augustini

Managing Partner

James P. Benson

Co-Founder

Benjamin H. Davis

Managing Partner

Alison Fischer

Managing Partner and CFO

Mark Honeybone

Partner

Austin P. Lutz

Director

Mike Mayon

Partner

Michael P. Mitchell

Director

Chandler A. Phillips

Managing Partner

Thomas Whitener

President and Founding Partner

Past deals in Oil and Gas

Renegade Infrastructure

Private Equity Round in 2025
Renegade Infrastructure specializes in developing and acquiring midstream energy infrastructure, offering a comprehensive suite of services tailored to North American oil and gas producers. The company operates in the most prolific basins across the United States, focusing on acquisition, development, and operation of midstream assets to capitalize on strategic opportunities in the energy sector.

Tivoli Midstream

Private Equity Round in 2020
Tivoli Midstream LLC is a Houston-based company that specializes in acquiring, constructing, and managing storage and terminal facilities for oil, gas, and petrochemicals. The company provides logistics and handling services for a variety of products, including chemical and refined products, crude oil, renewable products, and dry-bulk commodities. Serving refiners, commodity traders, and the petrochemical industry, Tivoli Midstream aims to optimize logistics solutions that enhance client operations. The team is composed of experienced industry professionals with extensive knowledge in the oil, gas, and petrochemical sectors, underscoring the company's commitment to delivering critical infrastructure to its clients.

Caprock Midstream

Private Equity Round in 2019
Caprock Midstream is a privately held midstream operator based in Houston, Texas, focused on acquiring, building, and developing midstream infrastructure for crude oil, natural gas, and produced water. Founded in 2015, the company primarily operates in the Delaware Basin, particularly in Reeves and Ward counties, where it provides gathering, processing, and disposal services to energy producers. Caprock currently manages two natural gas processing facilities, with plans to expand processing capacity to 540 million cubic feet per day upon completion of additional facilities under construction. The company engages in both buy and build strategies, targeting project investments ranging from $20 million to $400 million, and aims to deliver cost-efficient midstream services to its clients.

Pinnacle Midstream II

Private Equity Round in 2019
Pinnacle Midstream LLC is a midstream services provider based in Houston, Texas, specializing in supporting oil and gas producers. Founded in 2014, the company offers a range of services including natural gas gathering and processing, crude oil gathering and stabilization, transloading, storage, produced water gathering, and saltwater disposal. Pinnacle Midstream focuses on creating strategic partnerships with producers to enhance the efficiency and profitability of their operations. By utilizing advanced technology and tailored solutions, Pinnacle aims to deliver products to market more quickly than competitors, thereby maximizing revenue for its partners. The company operates as a subsidiary of EagleClaw Midstream Services, LLC, and has established itself as a key player in various North American basins by meeting the energy infrastructure needs of its clients.

Laser Midstream

Private Equity Round in 2019
Laser Midstream Energy acquires and develops crude oil, natural gas, and water-related midstream assets.

Taproot Energy Partners

Private Equity Round in 2018
Taproot Energy Partners is a midstream company that specializes in the design, construction, and operation of midstream assets in the northeastern extension of Colorado. The company focuses on the gathering and transportation of crude oil, produced water, natural gas, and fresh water, along with natural gas processing and liquid handling. By developing efficient and cost-effective infrastructure, Taproot Energy Partners aims to facilitate the delivery of these products to market, thereby maximizing value for producers and enhancing their netback value.

Rimrock Energy Partners

Private Equity Round in 2017
Rimrock Energy Partners is an oil and gas production company that specializes in acquiring and developing midstream assets focused on crude oil, natural gas, and natural gas liquids. The company aims to connect North America's diverse energy basins to broader energy markets, with a strategic emphasis on regions such as the Niobrara Shale in the Rocky Mountains, the San Juan Basin in New Mexico, the Permian Basin, the Woodford Shale, and the Anadarko Basin. By leveraging current market dynamics, Rimrock Energy Partners seeks to facilitate sustainable expansion within the energy sector across states including Colorado, Wyoming, New Mexico, Texas, and Oklahoma.

Vesta Midstream Partners

Private Equity Round in 2017
Vesta Midstream Partners, LLC, founded in 2017 and based in Tulsa, Oklahoma, specializes in the design, construction, and operation of midstream infrastructure for natural gas and crude oil. The company focuses on developing gathering and processing assets, providing essential services that enable energy producers to enhance their asset value efficiently. Through its comprehensive offerings, Vesta Midstream Partners facilitates the gathering and processing of both low and high-pressure gas, ensuring timely and cost-effective solutions for its clients. As of December 31, 2019, Vesta operates as a subsidiary of Candor Midstream, LLC.

BlueJack Energy Solutions

Private Equity Round in 2016
BlueJack Energy Solutions, LLC is a company based in Frisco, Texas, that specializes in providing waste stream management services for the oil and gas industry. Founded in 2015, it focuses on developing and operating solutions for oilfield waste in key regions such as the Permian Basin and the Marcellus and Utica shale plays. The company offers a range of services, including saltwater transportation and disposal, solids processing and disposal, and wastewater recycling. BlueJack Energy Solutions collaborates with oil and gas producers to create tailored infrastructure solutions that address specific operational needs, ensuring effective waste management while emphasizing safety and environmental stewardship. With a commitment to high-quality customer service and extensive industry experience, the company aims to tackle current and future waste stream challenges for its clients.

BlueWing Ventures

Private Equity Round in 2015
Bluewing Midstream LLC is an energy logistics company based in Houston, Texas, that specializes in acquiring, operating, and optimizing terminaling, storage, and transportation facilities along the U.S. Gulf Coast. Founded in 2015, the company delivers strategic midstream solutions tailored for crude oil and liquids producers, refiners, marketers, and petrochemical manufacturers. Bluewing Midstream enhances operational efficiency by providing flexibility and efficiency through various transportation methods, including barge, rail, and truck capabilities. This positions the company to effectively serve the expanding import and export market for bulk-liquid commodities.

Liberty Midstream Services

Private Equity Round in 2013
Liberty Midstream Services specializes in providing midstream energy solutions to crude oil and natural gas producers. The company offers a comprehensive range of services, including gathering, processing, compression, dehydration, measurement, treating, and conditioning of natural gas, condensate, and crude oil. By focusing on the design, construction, operation, and acquisition of midstream assets, Liberty Midstream Services enables its clients to concentrate on their primary operations while ensuring efficient transportation and processing of energy products.

Kanata Energy Group

Private Equity Round in 2013
Kanata Energy Group is a midstream infrastructure and service company that specializes in the acquisition, construction, and operation of critical assets within the oil and gas sector. Operating primarily in Western Canada, the company focuses on developing field gathering, processing, and liquids extraction facilities. By providing essential infrastructure services, Kanata Energy Group plays a significant role in enhancing the efficiency and effectiveness of midstream operations in the region.

Prism Midstream

Private Equity Round in 2012
Prism Midstream specializes in acquiring and developing midstream assets, primarily in West Texas and the Gulf Coast regions. The company focuses on enhancing energy infrastructure to support growing oil and natural gas activities, particularly in East Texas and the Permian Basin. Prism Midstream provides a range of services, including liquid handling for both specification and off-spec natural gas liquids and crude condensate, as well as crude oil and gas gathering, processing, treating, transloading, and saltwater disposal. Its operations include a Liquid Handling Facility in the Southern Midland Basin and transloading services in Reeves County, Texas, catering to the needs of natural gas producers and related companies.

Rio Midstream

Private Equity Round in 2012
Rio Midstream acquires and develops crude oil, natural gas, and water-related midstream assets and also provides the infrastructure and services to transport hydrocarbons from wellhead to markets, enabling the energy producers to solve complicated gas gathering, processing, and transportation challenges.

Texas Energy Midstream

Private Equity Round in 2008
Texas Energy Midstream specializes in providing essential midstream services to the oil and gas industry, including gathering, transmission, treating, processing, and compression. The company is focused on acquiring and developing midstream assets with growth potential, particularly in Texas. Currently, Texas Energy Midstream is constructing a new gathering system and treating facility, which will enhance its service offerings and support its clients in achieving their operational objectives. By developing natural gas gathering systems and compression facilities, the company aims to ensure reliable and efficient service delivery in the evolving energy sector.

C&J Energy Services

Private Equity Round in 2006
C&J Energy Services, Inc. is an independent provider of hydraulic fracturing, coiled tubing, wireline, pressure pumping, and other oilfield services, specializing in complex well completions. The company offers a comprehensive range of completion, stimulation, and production enhancement services, along with manufacturing equipment for the oilfield sector and providing repair and refurbishment services. C&J also supplies parts and specialty chemicals for completion and production services, including fluids for hydraulic fracturing operations and related downhole tools. Headquartered in Houston, Texas, the company operates in major U.S. basins and has expanded its presence internationally with an office in Dubai, seeking to establish operations in key Middle Eastern countries.

High Sierra Energy

Private Equity Round in 2006
High Sierra Energy, LP gathers, transports, and markets crude oil and natural gas liquids.

Forrest Drilling

Private Equity Round in 2006
Forrest Drilling Company specializes in contract land drilling, operating a fleet of seven newly built diesel-electric SCR land drilling rigs with horsepower ranging from 1,000 to 1,500. The company conducts its operations primarily in Mississippi, Texas, and Oklahoma, where its rigs are capable of drilling to depths of 15,000 to 20,000 feet across various geological formations. In line with its growth strategy, Forrest Drilling plans to expand its fleet by acquiring existing operational equipment and constructing new rigs.

SemGroup

Private Equity Round in 2000
SemGroup Corporation is a public company that specializes in the midstream energy sector, focusing on the transportation, storage, and processing of oil and natural gas. It operates a comprehensive network of pipelines, terminals, and storage facilities primarily serving independent oil and natural gas producers, as well as petroleum refiners and other market participants. The company's operations are predominantly located in the Mid-Continent and Rocky Mountain regions of the United States, with additional activities in Canada, Mexico, and the United Kingdom. SemGroup's business segments include U.S. Liquids, which manages crude oil pipelines, truck transportation, and storage operations, and U.S. Gas and Canada segments, which focus on natural gas gathering and processing. This diverse portfolio enables SemGroup to provide essential midstream services across various energy markets.

Tobin International

Private Equity Round in 1998
Tobin International develops enterprise software and services, mapping data, and storage systems for the oil and gas industries.
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